The Everton Board Thread (Inc. Bill Kenwright / Blue Union)

[davek]

My friend, I think we are finally after pages and pages of debate getting close to an agreement

If we need to point fingers at the man charged with the responsibility for being unable to financially move us forward and form a lynch mob with flaming torches then Mr Elstone is the source of your ire. I've got my horse saddled up and ready! The CEO, not the board are responsible for the running of the commercial aspect of the club; the day-to-day.

The frustration for us 'Kenrighters' is that we know our Chairman has identified he can't progress the club personally, and we know his cronies (or his sharefund; however you address it) on the board are neither inclined to, nor care to 'speculate to accumulate'. It's just that we can't see the benefit of a quick sale to the wrong person/people/entity to appease some.

I simply believe his stance that he is trying to sell the club, to the right buyer to ensure we're not left up **** creek in the short term. Not, as other may think, that he is holding out for a gazillion pounds of profit, or isn't trying to sell, or is just milking every available pound he can to line his pockets. It's a do you believe him or not question for me. And I do.

Self sustainability for football clubs is unachievable I'm afraid. The oft cited Arsenal model is flawed and still requires the sale of playing assets (only a trifling £20m per annum) to ensure they break even. I'm as frustrated as the next man that we're not maximising our potential, but understand that I would be MUCH more frustrated if some tin pot prat took ownership and led us down the path of some of our esteemed peers.

On the issue of believing Kenwright when he says he wants the best for the club and so doesn't want to open the club up to "tin pot prats": why do you think Kenwright wont sanction a rights issue that would allow Evertonians to buy a share of the club and provide some much needed finances for the manager?

 

[Chang Elephant]

Because Jack Rodwell is not and should never ever be worth £30m.

Give Moyesy that, and we can sign 4-5 decent players. Or is that not good enough for you?

"Selling our best or better players may not be what some people want to do, but I think it may just be the only way to go." is definitely not good enough for me.

Nil Status No Optimism

 

[Chang Elephant]

CROCK OF ****E slogan

It is what it is, can't see why a lot of Blues have settled for it though.

 

[SweetJesus849]

""Selling our best or better players may not be what some people want to do, but I think it may just be the only way to go." is definitely not good enough for me."

And you consider Rodwell to be one of our better players?

Forever in Fellaini's shadow as long as he is here.

 

[BlackToffee]

On the issue of believing Kenwright when he says he wants the best for the club and so doesn't want to open the club up to "tin pot prats": why do you think Kenwright wont sanction a rights issue that would allow Evertonians to buy a share of the club and provide some much needed finances for the manager?

A rights issue adds value to the club, its not a process for people to buy existing shares from existing board members. You are purchasing extra shares. So if the club was worth £40m, and he issued a rights issue of say £30m, he is revaluing the club by that £30m. The club would now be worth £70m. Kenwrights pecentage of total shares would be reduced, but the actual value won't be. As a means of raising short term funds, it would be the worst way to go around it. The club would be worth an unsellable figure and if they sold the club (if someone was willing to pay such an over inflated price to buy out all the shareholders), he would be rolling in money.

If you want to entrench someone in their position forever a share issue is precisely the thing to do. If you want rid, a rights issue is entirely a nonsense strategy.

 

[davek]

A rights issue adds value to the club, its not a process for people to buy existing shares from existing board members. You are purchasing extra shares. So if the club was worth �40m, and he issued a rights issue of say �30m, he is revaluing the club by that �30m. The club would now be worth �70m. Kenwrights pecentage of total shares would be reduced, but the actual value won't be. As a means of raising short term funds, it would be the worst way to go around it. The club would be worth an unsellable figure and if they sold the club (if someone was willing to pay such an over inflated price to buy out all the shareholders), he would be rolling in money.

If you want to entrench someone in their position forever a share issue is precisely the thing to do. If you want rid, a rights issue is entirely a nonsense strategy.

You should have stopped right there.

 

[Matt Damon]

A rights issue adds value to the club, its not a process for people to buy existing shares from existing board members. You are purchasing extra shares. So if the club was worth �40m, and he issued a rights issue of say �30m, he is revaluing the club by that �30m. The club would now be worth �70m. Kenwrights pecentage of total shares would be reduced, but the actual value won't be. As a means of raising short term funds, it would be the worst way to go around it. The club would be worth an unsellable figure and if they sold the club (if someone was willing to pay such an over inflated price to buy out all the shareholders), he would be rolling in money.

If you want to entrench someone in their position forever a share issue is precisely the thing to do. If you want rid, a rights issue is entirely a nonsense strategy.

Only if the shares are spent on adding to the revenue streams of the club.

i.e. stadia capacity.

 

[Matt Damon]

It is what it is, can't see why a lot of Blues have settled for it though.

What? 20 ? Plus those additional unsold scarves on Ebay going for a quid?


Bastardise (as if that was a good thing) the club motto. And that's what you get.

 

[sirblue57]

its easy to mock those doing something positive, as opposed to doing nothing.

 

[Matt Damon]

its easy to mock those doing something positive, as opposed to doing nothing.

If you call "no status no optimism" positive you need to go back to school.

SELF LOATHING. nothing more.

 

[sirblue57]

If you call "no status no optimism" positive you need to go back to school.

SELF LOATHING. nothing more.

get off your high horse, its a tongue in cheek go at the board. a way to make a point, nothing more. and the way the board act towards supporters is much more disgraceful. where is the optimism? on the transfer front? NO. on a new ground? NO. some people are doing something to let the board know the supporters are not happy,about time to. unlike internet snipers like you, who feel your superior for some reason, with your almost smart arse comments. maybe a better slogan would have been "those who can do, those who can't, snipe on the internet like castrated action men."

 

[Matt Damon]

get off your high horse, its a tongue in cheek go at the board. a way to make a point, nothing more. and the way the board act towards supporters is much more disgraceful. where is the optimism? on the transfer front? NO. on a new ground? NO. some people are doing something to let the board know the supporters are not happy,about time to. unlike internet snipers like you, who feel your superior for some reason, with your almost smart arse comments. maybe a better slogan would have been "those who can do, those who can't, snipe on the internet like castrated action men."

I wouldn't be seen dead wearing a scarf with that on.

Yes you're right. Those that want to look like tits. Do.

 

[BlackToffee]

You should have stopped right there.

No, I think I stopped at the right point. I'm sure that even you know the difference between percentages and real figures. The percentage drop in shares makes little difference as he's likely to make more money from a sale due to the club being worth more.
Even you are not that generous.

 

[Matt Damon]

No, I think I stopped at the right point. I'm sure that even you know the difference between percentages and real figures. The percentage drop in shares makes little difference as he's likely to make more money from a sale due to the club being worth more.
Even you are not that generous.

Its all about margin's.

Kenwright et al are probably thinking they can get the mega pay day they thought they were going to get over DK. But they're not now.

Margin will be tighter, they need to PROPERLY accept that.

And get the infrastructure built.

 

[Neiler]

For all their failings and the fact they raise a good laugh from everyone, the Bongo Dwarves do know how to run a football club. Birmingham was left in a very healthy position before Yeung came and fecked it up. Can't see them selling out, especially not on the cheap, and extra especially given the lovely new stadium West Ham are due to take a lease on in 2013 or 2014. Seats=Revenue=Profit. They'll need to be back in the top flight, granted.

Ownership doesn't mean a great deal as no-one beside the certifiably insane will sink their own personal worth into a football club. It's an absolute money pit feeding the ingrates who *shudders* are earning millions and their parasitic agents. As mentioned to the point of exhaustion if a new owner has the nous to make the most of an underperforming commercial beast then they're the right men for the job. This has to be coupled with the awareness that loading the club with debt to finance new signings to gain one or two places in the league for the benefit of one or two million of extra TV revenue doesn't really add up long term.

It pains me to say it again, but the Sports Fund model - as seen across the park, strikes me as the most beneficial ownership model. A sale to a high net worth individual is just going to lead to a protracted spell of pass the parcel....unless it's Kenwright's Mr. Right.

Excellent post mate.